NPP Announces Collateral-Free Loans for Entrepreneurs

News Today: NPP to provide loans without collateral to young entrepreneurs in Sri Lanka

National People’s Power (NPP) Presidential Candidate Anura Kumara Dissanayake has announced a bold new initiative aimed at supporting young entrepreneurs in Sri Lanka. If elected, his government plans to provide collateral-free loans to young entrepreneurs to foster innovation and economic growth.

Speaking at an NPP rally in Akurana, Dissanayake explained, “We are starting a new development bank. This will be beneficial to the youth aspiring to start a new business. They will be required to submit a viable plan. After considering the project report, if it is practical, the government will issue a guarantee to the bank. Then this young person will get a collateral-free loan.”

The proposed development bank will be instrumental in developing new industries and providing financial support to young entrepreneurs who present viable business plans. Dissanayake highlighted that a project officer from the relevant district secretariat will carefully review each business plan and monitor its initiation and progress to ensure the effectiveness of this initiative.

He emphasized that this approach by the National People’s Power is designed to create more entrepreneurs and contribute significantly to the country’s economic recovery. “Our goal is to empower the youth and help them achieve their business dreams without the burden of collateral,” he concluded, asserting that this plan will be a cornerstone of the NPP’s economic strategy.